Hua Er Jie Jian Wen·2026-01-30 22:14Core Viewpoint - The performance forecasts for 2025 from major players in the CPO concept, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, indicate significant profit growth driven by the demand for high-speed optical modules and optical devices in the context of global AI infrastructure development [1]. Group 1: Zhongji Xuchuang - Zhongji Xuchuang expects a net profit attributable to shareholders of RMB 980 million to RMB 1.18 billion for 2025, representing a year-on-year increase of approximately 89.5% to 128.2% compared to about RMB 517 million in 2024 [2][3]. - The growth is attributed to strong customer investment in computing infrastructure and a rapid increase in the shipment of optical module products, particularly high-speed optical modules [3]. - The company has shown a strong growth trend, with a net profit increase of over 50% in the first half of 2025, indicating a solid foundation for annual performance growth [3]. Group 2: Xinyi Sheng - Xinyi Sheng forecasts a net profit attributable to shareholders between RMB 9.4 billion and RMB 9.9 billion for 2025, reflecting a substantial year-on-year growth of 231.24% to 248.86% [4][7]. - The strong performance is driven by sustained growth in AI-driven computing investments and a rapid increase in market demand for high-speed products, including optical communication devices [7]. - The company reported a net profit increase of over 320% in the first half of 2025, indicating robust order flow and product delivery schedules [7]. Group 3: Tianfu Communication - Tianfu Communication anticipates a net profit between RMB 1.881 billion and RMB 2.15 billion for 2025, with a year-on-year growth of approximately 40% to 60% [8][11]. - The growth is primarily supported by the accelerated development of the AI industry and ongoing global data center construction, alongside the company's stable delivery capabilities in high-speed optical devices [11]. - The company reported a net profit of RMB 1.465 billion in the first three quarters of 2025, reflecting a 50% year-on-year increase, aligning with market expectations for annual performance [11].